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Showing posts with label real estate. Show all posts
Showing posts with label real estate. Show all posts

Monday, January 28, 2013

Stock News 2013: Century Properties exceeded P20B sales

English: New housing development, Sylvan Drive...
English: New housing development, Sylvan Drive At the time of Geograph submission, the developer claims 80% of properties are sold, but the estate does not yet appear on the 1:50,000 OS sheet (Photo credit: Wikipedia)

Property developer and publicly listed firm Century Properties Group Inc. (CPG) exceeded its P20-billion pre-sales target for 2012, hitting P21.4 billion.

Century’s pre-sales figure in 2012 was up 16.6 percent from the P18.4 billion recorded the previous year.

The 26-year-old real estate firm said it attained strong growth in sales due to the robust demand for housing and commercial properties from its market base of local end-users, foreigners and Filipinos working overseas.

Century also expanded its portfolio in 2012, becoming an active player in the luxury, middle-income and affordable segments.

“The demand for real estate remains very strong as proven by our robust sales, and the market recognizes that the timing and conditions are indeed ripe for buying good property. The expanding middle class, more job and income opportunities that lead to an increase in purchasing power, low interest rates, and robust remittances—these and more factors contributed to the growth of Philippine real estate this year, and to the growth of Century as a prime developer,” Century Properties chief operating officer Jose Carlo R. Antonio said.

http://business.inquirer.net/104241/century-properties-exceeded-p20b-sales-target-for-2012

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Monday, January 14, 2013

Stock News 2013: Former high-end realtor casts his lot on affordable homes outside Manila

C-5 Road facing the South
C-5 Road facing the South (Photo credit: Wikipedia)

There are two sides to the current housing boom. The more visible side is the flurry of high-rise condominiums that are transforming Metro Manila’s skyline. Their prominence is matched only by their own giant billboards and splashy newspaper ads.

Inside the mall or supermarket, you won’t miss the smart-dressed agents showing scale models of their trendy properties.

But the vibrant housing market has a lesser-known side, too. It’s driven by another kind of sales agent-the ones who are spending much time in front of the computer. They could be housewives or employees surfing on their break time. Day and night, they prowl the Internet in search of home buyers. They post, update and monitor constantly on multiple free websites. To add a personal selling touch, some even create their own website.

Their products—mid-priced homes tucked away in suburban Cavite and Pampanga—are runaway hits, according to the founder of a successful realty marketing firm. His agents have cashed in by selling these affordable homes to the vast and hardworking Filipino middle class based here or working abroad.

“This middle market seems bottomless.  About 80 percent of our buyers are first-time home owners, while the rest are looking for a bigger, better home,” says Gabriel “Billy” Dominguez, president of Green Circle Realty, a marketing arm of 12-year-old developer ProFriends, which has completed 52 projects to date and is riding the uptrend with another 34 master-planned communities in progress north and south of Manila.

ProFriends builds an array of three-bedroom models, the most popular of which are priced between P850,000 and P2.5 million.

Green Circle sold a total of 255 homes last November 2012 alone, the best month ever in its six years of operation. During his jampacked monthly sales meeting last Dec. 4, Dominguez introduced the previous month’s biggest producer, a soft-spoken accountant in her 20s who contributed 10 home sales. She had resigned from a commercial bank only three months earlier.

Dominguez credits the Internet proficiency of his agents for generating a high volume of OFW buyers. Most of all, he’s proud of how Green Circle agents overcame early fears to embrace their status as “realty entrepreneurs.” Not a few have already left secure nine-to-five jobs for the opportunity to multiply their incomes.

“It’s the full-time agents who do much better,” Dominguez says, although many part-timers are also hitting a more modest goal to augment their current income.

“We’re winning the battle of mindsets,” adds Dominguez, who now recruits about 200 new agents each month. He acknowledges that many Filipinos still dislike working with no fixed salary or simply lack the confidence to get into sales.

In Green Circle, these worries are quickly addressed during the short but lively orientation seminars. “We remind everyone that they are natural sales people. As teenagers, they already convinced their parents to buy them stuff, and didn’t they also sell their way into the hearts of their spouses?”

Dominguez maintains a marketing organization with little frills and no quotas to meet. He adopts a clear commission structure and recognizes top performers with incentives. Green Circle meetings are not confined to fancy suites. The last one, for example, took place in a fast food outlet where he reviewed sales performance using easy-to-read slides. With his usual jokes, parlor games, and inspirational stories, Dominguez cajoles his troops to storm the market in 2013. Finally, together with his wife and business partner Helen, they handed out cash incentives like game show emcees.

A government employee for more than a decade before he went into high-end real estate, Dominguez insists he’s a far cry from the typical image of a sophisticated, well-connected salesperson.

The UST communication arts graduate attributes his success to organization-building skills rather than slick, face-to-face salesmanship.

These days, he draws greater fulfillment from seeing ordinary folks enjoy the purchase of their dream home. The feeling cannot compare with closing a sale for a golf share or a high-rise apartment.

“Some of these upscale properties I sold before are never used by the owners,” he quips.

http://business.inquirer.net/102341/former-high-end-realtor-casts-his-lot-on-affordable-homes-outside-manila

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Friday, November 16, 2012

Stock News 2012: Vista Land profit soars 24% to P3.23B in 9 mos

Prototype residential housing system
Prototype residential housing system (Photo credit: Wikipedia)

Vista Land & Lifescapes Inc., the country’s largest homebuilder, posted net earnings of P3.23 billion in the first nine months, up 24 percent from the same period in 2011, on record sales.

In a briefing yesterday, Vista Land officials said real estate revenues grew 23 percent to P12.15 billion as reservation sales hit an all-time high of P30.1 billion on robust demand for its products, particularly in the low-cost and affordable housing segment.

Manuel Paolo Villar, chief executive officer of Vista Land, said the company is on track to meet or even surpass its P4.2-billion income target this year, driven by a buoyant property market amid record low interest rates.

“We haven’t seen any signs of slowdown.  There may be some fears of slowdown in some sectors but definitely our main business, which is house and lots, is less cyclical.  I have been and continue to be very optimistic about the outlook for the property sector and I am confident that Vista Land will continue to be a dominant force in the affordable housing market,” he said.

Villar pointed out that the Camella brand remains the leader in the affordable house and lot segment and has a strong competitive advantage given its track record spanning more than 30 years.

He also noted that the company’s share price has already risen 78.95 percent so far this year, reflecting investors’ strong confidence in Vista Land and its projects.

“Based on our stock market performance, it seems investors are seeing value in the company.  People now see how solid our market is. We’re getting more coverage now.  We’ve done considerable discussions with foreign investors to enhance Vista Land’s profile.  We’re increasingly getting attention from a lot of investors,” Villar said.

Villar likewise attributed the company’s strong market performance to government’s hardline efforts to pump up infrastructure spending in the country.

Vista Land’s market capitalization now stands at P42.86 billion or more than $1 billion.

http://www.philstar.com/business/2012/11/16/867255/vista-land-profit-soars-24-p323b-9-mos

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Saturday, November 3, 2012

Stock News 2012: ALI, SM Prime win real estate awards

SM Prime Holdings
SM Prime Holdings (Photo credit: Wikipedia)

Ayala Land Inc. and SM Prime Holdings, Inc have been recognised for their high standards by the Asia Pacific Real Estate Association (APREA) in the APREA Best Practices Awards 2012.

The APREA Best Practices Awards are open to all real estate companies and trusts listed on a regional stock exchange. As with previous years, there has been overwhelming response from high-quality organizations from countries around the region, including Australia, India, China, Japan, Malaysia, New Zealand, Singapore and the Philippines. In all, organizations from nine different jurisdictions lodged submissions.

Winners were chosen based on how an organization has contributed to providing greater transparency and comparability in their local market and the region. Submissions were also judged on the extent of which they have adopted recommendations in the APREA Best Practices Handbook in the categories of market disclosures, accounting and financial reporting, property valuation, portfolio performance reporting and corporate governance.

Ayala Land won awards for the best Philippines submission and merit awards in the areas of market disclosure and portfolio performance reporting. It also won an award as the best property development organisation in the Emerging Markets category. SM Prime won a merit award in the area of corporate governance.

Lim Swe Guan, CFA, chairman of the board of APREA says, “We are delighted with the level of best practices demonstrated by the companies who submitted for the awards this year. We continually encourage members to adopt the most up-to-date valuation techniques, adhere to international financial reporting standards and follow good corporate governance. Combined with a greater transparency of portfolio performance and provision of reliable timely information to investors, we believe this will lead to higher investor confidence and wider support for the industry. We are confident that with the support of our members, who are leaders in their field, we can make real estate a crucial part of every investor’s portfolio.”

Peter Mitchell, chief executive officer of APREA said “We would like to extend our congratulations to Ayala Land and SM Prime Holdings as industry leaders in best practices. These awards are held annually to highlight the importance of the recommendations in APREA’s Best Practices Handbook, which has emerged as a clear benchmark for the region for managing and reporting performances since it was first published in 2009.”

APREA has developed best practices to streamline performance measurement and reporting for the real estate investment industry in the region. The APREA Best Practices Handbook, currently in its second edition, is intended to be a living document and will be regularly modified, updated and added to. It contains a series of recommendations for adoption by the industry in the following areas:

• Accounting and financial reporting guidelines

• Property valuation Corporate governance

• Portfolio performance reporting

• Market disclosures


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Thursday, August 23, 2012

Stock News 2012: Robinsons shifts focus to commercial projects

English: Newly opened Robinsons Place Mall, Ta...English: Newly opened Robinsons Place Mall, Tacloban City, Philippines (Opened 2009-06-11) (Photo credit: Wikipedia)
After slowing down on residential construction, Gokongwei-led property firm Robinsons Land Corp. is recalibrating its growth strategy and beefing up its landbank to build a strong pipeline of work in the commercial segment.

“We’re more aggressive now. We’re embarking on landbanking to ensure sufficient land capacity for development,” said Frederick D. Go, president of RLC.

Go said the company remains in talks with Japanese billionaire Kazuo Okada for the latter’s $2-billion casino project in the Philippine Amusement & Gaming Corp.’s Entertainment City along Roxas Blvd. RLC is considering running the retail and hotel operations for Okada’s project.

In April, RLC said it was inherently cautious about the short-term outlook for the residential real estate market and would rather focus on expanding its shopping mall, office building and hotel operations, which account for more than 65 percent of the group’s total revenues.

RLC is building seven new shopping malls and expanding three of its existing malls to capitalize on strong consumer spending and a growing business process outsourcing industry. Of the seven, three will be built this year while the other four will rise in 2013.

The expansion of the retail portfolio will increase the group’s total mall leasable area to a little over a million square meters (sqm) in two years.

RLC recently completed two mall expansion projects in Tacloban and Bacolod.

Together with the two expansion projects, RLC’s total gross leasable area (GLA) is seen to reach 911,000 sqm at end-September this year. In 2013, RLC will add another 100,000 sqm to bring the total GLA to 1.01 million sqm.

For the office segment, RLC is completing Cyberscape Alpha and Cyberspace Beta in Ortigas by mid-2013.

As for its Go Hotel chain, the company is looking to build four this year in line with plans to hit a 30-branch network over the next five years.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=840420

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Wednesday, August 8, 2012

Stock News 2012: Rockwell Land to raise P7 billion via debt

Official seal of City of TaguigOfficial seal of City of Taguig (Photo credit: Wikipedia)Lopez-led Rockwell Land Corp. plans to raise as much as P7 billion either through debt or equity to bolster cash reserves.

Rockwell president Nestor Padilla said the company is in discussions with banks and investment banks to “help put together a more realistic fund-raising program” to better prepare them for emerging opportunities in the industry.

“We’re looking at raising between P5 billion and P7 billion either through debt or equity...It actually depends on market conditions. The equity market has not been that bullish lately so we’ll see,” Padilla said.

The company wants to shore up its land bank to sustain its development pipeline for the next five years. It plans to diversify into new geographical areas to take advantage of robust demand for real estate.

“There are a lot of opportunities in Metro Manila and provincial areas. We’re hoping we can close some deals within the year,” Padilla said.

Continuing its tradition of building innovative and world-class properties, Rockwell is looking at branching out into Cebu and Davao to develop projects catering to the upper mid-market.

Rockwell is one of seven companies that are vying for the 74-hectare state property within the Food Terminal Inc. complex in Taguig City. The bidding has been rescheduled to Aug. 14 from Aug. 8 to give bidders more time to study additional information on the property.

The company aims to double its projected P1.1 billion earnings this year in two years or by 2014 on the back of new product launches.

Rockwell currently has 90,000 square meters of space for lease and expects this figure to double by 2014 and triple by 2016.

In the first half of the year, Rockwell reported a net income of P439.7 million on revenues of P2.5 billion. Sales take up jumped by 70 percent to P4.1 billion.

Established in 1995, Rockwell transformed a former thermal power plant into a high-end living environment now known as the Rockwell Center. Sitting on a 15.5 hectare site in Makati City, the company’s flagship project Rockwell Center now comprises five high-rise residential towers, a sports and leisure club, office buildings, a lifestyle shopping center, and a graduate school of law.

http://www.philstar.com/Article.aspx?articleId=835038&publicationSubCategoryId=66
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Wednesday, July 18, 2012

Stock News 2012: Cityland unveils Pines Peak residential condo in Mandaluyong

Mandaluyong cityMandaluyong city (Photo credit: Wikipedia)
Cityland Development Corp. (CDL), a member of the Cityland Group of Companies, has unveiled its newest project, the 27-story medium-sized residential condominium Pines Peak, in Mandaluyong City.

In a disclosure to the Philippine Stock Exchange, CDC said Pines Peak, which will rise along the corner of Union and Pines streets in Mandaluyong, is targeted towards the fast-paced Filipino family.

Pines Peak will have more than 1,000 units with sizes ranging from 16 square meters to 40 square meters. Each floor may house 50 units.

A studio unit may sell for around P1.2 million while one-bedroom units may be priced at around P1.5 million each. Two-bedroom units may be sold at P2.1 million to P3.1 million each.

Amenities include a swimming pool, multi-purpose function room with movable playset, viewing deck and 24/7 security.

CDC said friendly and flexible payment terms are available to interested buyers. Special discounts will also be given for the early buyers during the project’s launch.

The Cityland Group is a trusted name in the real estate industry given its track record of developing condominiums. It has been in the real property development business for over 25 years.

Aside from CDC, the group has two other units – City and Land Developers (CLD) and Cityland Developers.

CDC was formed in 1978 to engage in the development of land for residential, office, commercial, institutional and industrial uses. The company’s projects include medium to high-rise offices, commercial and residential condominiums located in Makati, Mandaluyong and Ortigas in Pasig, and farmlots in Bulacan and Cavite. – Zinnia dela PeƱa

CLD, on the other hand, caters to the low-to-middle income segments since its projects are offered at affordable prices. It developed residential units in Paranaque as well as an office and residential condominium project in Ortigas Center.


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Monday, July 16, 2012

Stock News 2012: SMC sells Rockwell Land shares to Lopez

Rockwell CenterRockwell Center (Photo credit: Wikipedia)
In a disclosure to the Philippine Stock Exchange, FPHC said it purchased SMC’s 681.646 million shares in Rockwell or around 11.1 percent of the newly-listed property firm’s outstanding capital, at P2.01 each share.

The purchase effectively hikes FPHC’s stake in Rockwell to about 87 percent from 76 percent.

The shares will be crossed at the local bourse’s facilities upon its approval of the special block sale.

FPHC said the transaction “serves to further consolidate FPHC’s ownership in Rockwell Land, its flagship for residential and commercial real property development.”

The sale follows FPHC’s purchase of Metro Pacific Investment Corp. and PLDT Communications & Energy Ventures’ combined 25 percent stake or 11.52 billion common shares in Rockwell at the same price for a total consideration of P3.06 billion.

When Manila Electric Co. declared as property dividend its 51 percent stake in Rockwell, shareholders of Meralco including Beacon and SMC, received such shares in the property firm.

SMC opted to divest its shareholdings in Rockwell since it conducts real estate business through its unit San Miguel Properties Inc.

Rockwell, which caters to the high-end segment of the market, listed by way of introduction or without undertaking an initial public offering.


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Wednesday, May 23, 2012

Stock News 2012: ALI to develop Gatchalian's Valenzuela property

English: Blank map of Valenzuela city in the P...English: Blank map of Valenzuela city in the Philippines divided into its legislative districts (first district) (Photo credit: Wikipedia)
Property giant Ayala Land Inc. (ALI) has bagged a deal to develop the 60-hectare property in Valenzuela City that used to house the country’s biggest fully-integrated plastic manufacturing complex.

In a disclosure to the Philippine Stock Exchange, Philippine Estates Corp. (PhilEstates), the property development arm of the Gatchalians, said it will enter into an agreement with ALI subsidiary Avida Land Corp.

“The board of directors of PhilEstates authorized the development through joint venture of the corporation’s real estate property located in Brgy. Calumay, Valenzuela City,” the company said.

The 60-hectare Plastic City property will be developed into a residential, business and/or commercial condominium and/or subdivision project with Avida Land.

The board also authorized management to negotiate and finalize terms of the joint venture, PhilEstates said.

ALI is operating under five major brands – Ayala Land Premier for the high-end segment, Alveo Land for the middle-income segment, Avida Land for the “affordable” market, Amaia Land for economic housing unit and Buena Vida for socialized housing.

For this year, ALI plans to roll out 67 new projects with a potential sales value of around P90 billion, and has earmarked a record P37 billion for capital spending.

The bulk of the new developments will comprise 50 residential projects, equivalent to about 25,000 units across its five brands to cater to the different economic segments, or 25 percent more than the 20,000 units rolled out a year ago.

Last month, ALI announced it is in discussions with the Gatchalian Group who owns the sprawling Plastic City. The Gatchalian Group has long been searching for a strategic partner to convert its huge estate in Valenzuela into a modern mixed-use complex to maximize the untapped potential of the property.

The property used to house the warehouse facilities of Plastic City Industrial Corp. and Philfoods Inc. until the two firms ceased operations in 2002 due to losses.

In a filing with securities regulators, the Gatchalians, through Wellex Industries Inc., said the property is seen to contribute significantly towards the group’s maximum operation and financial position due to its encouraging prospect.

“Management is continuously in search for a reliable joint venture partners who have the means to continue its operations,” Wellex said.

In a separate disclosure, ALI said its board of directors approved the company’s plan to raise P1.3 billion through the sale of preferred shares.

For every share held as of June 4, the public can buy one preferred share at 10 centavos apiece. Offer period for the voting shares will be on June 18 up to June 22, 2012.

In February, ALI said it will issue P1.3 billion worth of preferred shares to comply with a Supreme Court ruling on foreign equity limits.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=809657

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Wednesday, May 9, 2012

Stock News 2012: ALI profit up 31% to P2.13 billion

Property giant Ayala Land Inc. (ALI) sustained its strong momentum with its first quarter net earnings growing 31 percent to P2.13 billion on brisk sales and higher contributions from other segments of the market.

In a briefing yesterday, ALI chief financial officer Jaime Ysmael said consolidated revenues expanded 17 percent to P12.39 billion, bulk of which or P11.77 billion came from real estate sales and hotel operations.

 “Demand remains high. We have set a new record in terms of sales at P19.3 billion equivalent to an average monthly sales take-up of P6.44 billion. This was 49 percent higher than the record P4.31 billion average monthly sales take-up for the whole of 2011,” Ysmael said, noting the significant rise in sales of products catering to the high-end segment of the market.

Ysmael said the company is on track to meet its P10-billion income target by 2015, noting that it may even come sooner than expected due to the continued robust growth of its businesses.

He said cost-containment measures likewise contributed to the company’s strong performance.

Property development, which includes the sale of residential lots and units, as well as the sale of commercial and industrial lots, chalked in revenues of P7.51 billion, up 18 percent from P6.34 billion.

Revenues from the residential segment, on the other hand, rose 21 percent to P7.01 billion on the back of a 48 percent jump in the value of bookings across the group’s four residential brands (Ayala Land Premier, Alveo, Avida and Amaia).

The four brands rolled out a total of 2,693 units worth around P11.3 billion.

Sale of commercial and industrial lots, however, fell 11 percent to P499 million due to lower commercial lot sales in Nuvali compared to last year. Gross profit margins however improved to 56 percent from 50 percent with significant price increases in the Nuvali commercial lots.

Commercial leasing, which includes the company’s shopping center and office leasing operations, registered total revenues of P2.04 billion, 21 percent higher than the P1.68 billion recorded the previous level.

Revenues from shopping centers grew 27 percent to P1.39 billion while office leasing revenues went up 11 percent to P647 million.

http://www.philstar.com/Article.aspx?articleId=805348&publicationSubCategoryId=66

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Friday, May 4, 2012

Stock News 2012: Alliance Global unit hits record sales in Q1

The property group of tycoon Andrew Tan’s Alliance Global Group Inc. (AGI) is off to a strong start, with reservation sales growing 52 percent in the first quarter to a record P16.4 billion.

Given a buoyant property market and a low interest rate regime, AGI said it is optimistic growth will continue for the rest of the year with reservation sales seen hitting P55 billion or an increase of 48.6 percent from the P37 billion recorded in 2011.

The group sells real estate products under Megaworld Corp., Empire East Land Holdings Inc., Suntrust Properties Inc. and Global-Estate Resorts Inc. (GERI). Each of the companies caters to niche markets ranging from the luxury, middle-income and affordable home sectors to the vacation homes segment.

Megaworld, one of the country’s leading residential condominium developers and the largest BPO office developer and landlord, showcases a variety of township projects all over Metro Manila. Each of these live-work-play-learn-shop communities, including Eastwood City, Newport City, McKinley Hill, Manhattan Garden City and Uptown Bonifacio, offers at least 500,000 square meters of residential space and 200,000 square meters of BPO office space.

“Megaworld’s strong performance for the first quarter of this year can be attributed to superior product offerings that address on a large scale the Filipinos’ need for quality, affordable homes in the very best locations,” said Megaworld senior vice-president for marketing Noli Hernandez.

Sales of Empire East and Suntrust, AGI’s middle-income and affordable housing brands, respectively, came from the strong marketing of the companies’ multi-tower condominium developments in the metro and sprawling residential communities in the Calabarzon.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=803330
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Monday, April 16, 2012

Stock News 2012: Century Properties profit up 284%

Property developer Century Properties Group Inc. grew its 2011 net profit attributable to parent equity holders by 284 percent to P864.5 million on higher revenues from real estate operations.

Including non-controlling interests, CPG’s net profit last year expanded by 382.2 percent to P866.1 million from the previous year.

For 2012, CPG chief finance officer Jose Carlo Antonio said the firm’s pre-sales for the first quarter hit P5.3 billion consisting of 812 units, keeping it on track to hitting its P20-billion pre-sales goal for this year.

Century plans to at least double this year its P866-million profit last year.

“We remain upbeat about the Philippine economy and property sector and our first-quarter results strengthened our resolve to deliver differentiated projects across multiple price points,” Antonio said.

In the meantime, CPG’s board approved the release of dividends of 10 percent of 2011 income, or P85.4 million.

For 2011, CPG grew its sales by 53 percent to P4.7 billion. Revenues booked from real estate sales amounted to P3.76 billion, up 43.9 percent from the year before. This was due to significant construction progress in The Gramercy Residences, The Knightsbridge Residences and the Rio Building in Azure Urban Resort Residences.

http://business.inquirer.net/53825/century-properties-profit-up-284

Thursday, March 29, 2012

Stock News 2012: Anchor Land allots P4.5 billion for projects, land banking

CondominiumsCondominiums (Photo credit: mjb84)

In a briefing, Anchor Land chief finance officer Neil Y. Chua said funding for this year’s projects will come from a mix of bank loans and internally-generated cash.

Anchor Land president Elizabeth Ventura said the company intends to further strengthen its position in the industry by continuing to create new markets, expanding its current bestsellers, and boosting its portfolio of commercial projects that should provide more recurring income in the near to medium term.

The new projects include Oxford Parksuites, Clairemont Hills, Admiral Baysuites II, SoleMare Parksuites Phase III, One Executive Suites and One Soler.

Aiming to duplicate the success of Wharton ParkSuites in Chinatown’s “university belt”, the company is building another residential condominium to be called Oxford Parksuites, targeting those who send their children to prestigious Chinese learning institutions in the area.

Ventura said the company is pursuing a low-density development in San Juan City, dubbed Clairemont Hills which will feature clusters of three-story townhomes and a medium-rise condominium at the center.

Anchor Land likewise acquired a prime property near its Admiral Hotel redevelopment project along Roxas Blvd. The company intends to put up a premium commercial office building that will be fully leased out to businessmen and investors.

Capitalizing on the robust take-up of its most successful project by far, the company will implement Phase 3 of SoleMare Parksuites, offering bigger and better amenities. The entire project, consisting of four medium-rise condominium towers, is located within Pagcor’s Entertainment City, which is seen to be Asia’s next Las Vegas.

One Executive Suites will serve as the residential component of Two Shopping Center in Pasay City, Anchor Land’s successful foray into the commercial development segment. It will cater exclusively to traders and wholesalers in the Baclaran bargain shopping district.

Another commercial development in the pipeline is the 18-story One Soler, which is located in Divisoria, one of the country’s oldest commercial and trading centers.

Anchor Land reported a 49 percent jump in net profit last year P842 million, marking the fifth year of consecutive income and revenue growth since its listing in 2007.

Revenues reached over P3 billion while earnings per share amounted to P2.41, up 48 percent from the year-ago level.

Chua said he expects the firm’s net income to increase further this year to hit P1 billion on the back of new project launches.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=798682

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Wednesday, September 28, 2011

Stock News 2011: ALI developing former PRC racetrack

Ayala Land Summer 2008Image by GianCayetano via FlickrSeal of Makati City, PhilippinesImage via Wikipedia
Property giant Ayala Land Inc. is planning to develop the 21-hectare former racetrack of Philippine Racing Club Inc. into the entertainment district of Makati City.

In an interview, ALI Strategic Landbank Management Group vice president Anna Bautista-Dy said ALI will take advantage of the property’s being near a river and should be launching projects by next year.

“We’d like more live performances, spaces for gathering around, more river-facing projects, perhaps a boardwalk along the river,” she said adding that it will be “more of an outdoor oriented retail, entertaining component.”

ALI and subsidiary Alveo Land Corporation have signed a deal with PRCI earlier this year for the mixed-use development of PRCI’s property in Bgy. Carmona, Makati City.

PRCI corporate secretary Jesulito Manalo disclosed to the Philippine Stock Exchange that, under the agreement, PRCI will contribute its 21 hectare lot for its joint development into a mixed-use real estate project.

ALI chief finance office Jaime Ysmael said the project will form part of ALI’s ongoing developments in the City of Makati but specific details are not yet available and will be disclosed later.

http://mb.com.ph/articles/335825/ali-developing-former-prc-racetrack


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Tuesday, May 31, 2011

Stock News 2011: Geo-Estate cites business philosophy

Makati CBD skyline at the start of dawnImage via Wikipedia
In today’s real estate industry, the number of products developed or launched is no longer the sole basis of a company’s success. Geo-Estate Development Corp. has proven that having industry mavericks at the helm, a sincere objective to provide a mid-income family a chance to own a beautiful home, and a clear mission to deliver a commitment on time is what makes a trusted company.

Geo-Estate, whose current thrust is the completion and turnover of the first tower of its residential project, The Beacon in Makati, continues to establish its presence in the industry at its own calculated pace. The company’s growth is measured with every milestone in construction – making sure that plans are on track, and every detail is covered.

Its chairman, Francisco H. Licuanan III, sees the company as a small, specialized group that will remain as such for a while.

“Too much growth affects the quality of the product. Being small, on the other hand, means you can grow as opportunities come and as much as your organization can comfortably accept,” he said.

He also shared that this vision is made possible by the company’s focused direction. Admittedly young and small in manpower compared to other developers, Mr. Licuanan sees this as an advantage when it comes to operations.

http://mb.com.ph/node/320594/geoe


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Thursday, March 17, 2011

Stock News 2011: Meralco says customers to see lower bills

PBCom Tower at nightImage via Wikipedia
Filinvest Land Inc. grew its net profit last year by 46 percent to P2.95 billion, on the back of a double-digit growth in real-estate revenue and recurring rental earnings from shopping mall and office space.

Benefiting from the robust property market, total 2010 revenue surged by 45 percent to P8.25 billion, as FLI realized higher earnings from real-estate sales and rental of commercial space.

Real-estate sales hit P5.65 billion, 54 percent higher than a year before, while rental income from Festival Supermall, PBCom Tower and Northgate Cyberzone in Alabang posted a 19-percent year-on-year growth to P1.41 billion.

http://business.inquirer.net/money/topstories/view/20110317-326011/Filinvest-nets-P295B-in-2010


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Wednesday, February 16, 2011

Stock News 2011: EastWest Bank reduces mortgage financing interest to 5.88%

Sign of a mortgage centre in East LondonImage via Wikipedia
EastWest Bank has recently introduced its lowest home loan interest rate of 5.88% fixed for the first year. Owning a real estate property by availing of a mortgage financing facility at only 5.88% interest rate provides borrowers a great deal of savings which they can use for other expenditures or purchases.

The Bank now offers a range of housing loan products that are especially designed for the specific needs of the borrower.

The Home ACQUIRE allows an availee to purchase a house and lot or a townhouse, while Condo ACQUIRE provides financing for acquisition of a condominium unit. For those who wish to purchase a residential lot, the Bank offers Lot ACQUIRE which is payable within a 10 year period.

Lot owners who opt to build their own house in their property may apply for Home CONSTRUCT with a maximum payment term of 30 years.



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